Business
Petco--the Retail Leader in Premium Fresh Frozen--Expands Unique Partnership with JustFoodForDogs to Meet Growing Pet Parent Demand and Capture Multi-Billion Dollar Market Opportunity
- Petco to launch new Owned Brand fresh frozen line to be co-created with JustFoodForDogs in H2 2022 - Expanding JustFoodForDogs availability from ~700 Petco
About this update from Petco Health And Wellness Company, Inc.
[{"type":"text","content":"- Petco to launch new Owned Brand fresh frozen line to be co-created with JustFoodForDogs in H2 2022\n - Expanding JustFoodForDogs availability from ~700 Petco pet care centers to more than 1,000 in 2022\n - Petco to remain exclusive national brick-and-mortar retailer of JustFoodForDogs fresh frozen meals through 2024, with potential to extend through 2026\n - Increased marketing funding to build awareness and demand\n - Petco to receive warrant for JustFoodForDogs equity tied to successful execution of 2022 plan, as well as opportunity to acquire additional equity over time\n\n\nSAN DIEGO, March 1, 2022 /PRNewswire/ -- Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) today announced a dramatic expansion of its partnership with JustFoodForDogs to extend its leadership position in the fast-growing fresh and frozen premium food category, and to better meet rising demand from pet parents.\n\n \n \n \n \n \n \n\n \nAs part of the expansion, Petco and JustFoodForDogs will co-develop a new human-grade fresh and frozen owned brand pet food for Petco's WholeHearted line, as well as pilot a custom food program at Petco's pet care centers. Currently available in approximately 700 Petco locations nationwide, the JustFoodForDogs offering is planned to expand to more than 1,000 Petco pet care centers by the end of 2022, further solidifying Petco's commitment to providing premium fresh and frozen food options to pets and increasing the availability of JustFoodForDogs nutrition nationwide. With the expanded partnership and exclusivity arrangement, Petco will continue to be the only national brick and mortar retailer to offer JustFoodForDogs products in retail stores and online through same-day delivery, buy online, pick up in store (BOPUS), and other online fulfillment options. The companies will also jointly invest in new marketing programs and the expanded pet care center presence to support the deepening relationship and fast-growing category.\nAdditionally, Petco will receive a warrant for JustFoodForDogs equity tied to the successful execution of the parties' 2022 plan, and will have the opportunity to acquire additional equity over time. Both companies have agreed on mutually beneficial structures should either Petco desire to add certain new fresh frozen brands to its assortment or JustFoodForDogs desire to add additional online d...